It may not have been proveably criminal...but it may not have been a straight sale either. The executive committee - of which Bush was not a member - knew the real magnitude of the impending losses and may have disclosed them to Bush informally or indirectly.
But that wasn't the point of my post.
Whether Bush's sale was legal or not it looks bad. Should Rubin find himself in that position he will also look bad. Rubin was the hero of the '90s bull market. Should he now be tainted no one will look good....except Rudy Guiliani.
The Executive Committee knew the magnitude of What impending losses? The stock went UP after Bush sold his stock TEN YEARS ago! It only looks bad in light of corporate corruption 10 years later. It was not sold undercover, nor for nefarious reasons.